The very first thing you need to do is read the rules and regs that govern vacation,  resort and college rental zones in the area where you're planning to invest in.

Basically ... the federal government has overstepped their bounds and put way too many restrictions on home lending.

The Single premium MI is more pricey as the risk increases to the lender so you'll notice the single premium is much cheaper when you have 10-15% down as opposed to 3-5% down on conventional financing.There are even 0% down programs for FHA and conventional where government entities come in with the grant for the 3-5% down payment so the borrower in essence is 0% down payment (primary residence only and sometimes first time buyer requirement).Hope that helps and that is the real darn truth not the BS you hear about MI. 

As someone living in Korea and keeping up with the news, I know that China is having problems and since China is Korea's biggest trade partner, that affects the Korean economy.I was listening to an analyst talk recently about the Chinese economy and how there's more capital flight as the Government cracks down on 'anti-corruption laws' and has jailed a few prominent investors.

Otherwise, the local or state government may have something. 

Why not, the government is paying.

Cash strapped governments are increasingly targeting developers with fees from many angles.

Anything 2-4 units is considered multi-family residential as far as FHA (and all other government back loans) is concerned.

If any non government leins were in existence,  they're  wiped out.  

Don't buy a foreclosed/REO property and state that you are an owner occupant when you are an investor.On properties with ties to the Federal government, like HUDs, VAs, Fannies, Freddies, USDA, etc, it is a Federal felony subject to 5 years in jail and a $250,000 fine.Don't do the crime unless you can do the time... and I haven't the repo worth that time.